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Micron (MU) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Micron (MU - Free Report) reached $72.28, with a -0.71% movement compared to the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Shares of the chipmaker witnessed a gain of 5.4% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.55% and the S&P 500's gain of 1.72%.
Market participants will be closely following the financial results of Micron in its upcoming release. The company is predicted to post an EPS of -$1.02, indicating a 2450% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.43 billion, up 8.54% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.93 per share and a revenue of $20.92 billion, demonstrating changes of +56.63% and +34.63%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.47% rise in the Zacks Consensus EPS estimate. Right now, Micron possesses a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Micron (MU) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Micron (MU - Free Report) reached $72.28, with a -0.71% movement compared to the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Shares of the chipmaker witnessed a gain of 5.4% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.55% and the S&P 500's gain of 1.72%.
Market participants will be closely following the financial results of Micron in its upcoming release. The company is predicted to post an EPS of -$1.02, indicating a 2450% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.43 billion, up 8.54% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.93 per share and a revenue of $20.92 billion, demonstrating changes of +56.63% and +34.63%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.47% rise in the Zacks Consensus EPS estimate. Right now, Micron possesses a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.